Why Veru Stock Soared Today
Shares of Veru (NASDAQ: VERU) surged 43% on Wednesday, following positive analyst commentary.
On Monday, Veru announced that an interim analysis of a phase 3 study showed that its oral antiviral-drug candidate sabizabulin cut deaths in hospitalized patients with moderate to severe COVID-19 by 55%. The biopharmaceutical company said it would seek Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) based on the results of the clinical trial.
"We expect new COVID-19 variant infections and new challenges in the treatment of hospitalized patients, particularly as the country heads into the fall and winter seasonal cycle," HD Research principal investigator Dr. Alan Skolnick, who conducted the trial, said in a press release. "With the results of this Phase 3 COVID-19 study, we now have a treatment option for the sickest hospitalized COVID patients."
Source Fool.com
